Your Toronto Airbnb condo will not stay looking new forever. Like every condo interior, your furniture keep depreciating in value per year and has a life of about 5 years - at that point it will either look out of date or be too damaged. In order to get maximum rent for your furnished apartment, you must try as much as possible to avoid real damages. This is important so that, even if the house is depreciating in value, it will not be evident to your guests. In this post, I will be taking you through ways in which you can avoid damages on your furnished apartment.
Carry out regular maintenance on the Property: The first thing you need to do in order to avoid damages is to ensure that you conduct constant inspection and maintenance of the property. This will help you to know the current state of the apartment and repair areas that need to be taken care of. Carrying out regular maintenance on the property will also help your guests to know that you care about them which will increase the likelihood of a referral at the end of their stay.
Answer your guests Promptly: Before you give your apartment out to any tenant, ensure to tell them that they should not hesitate to call you when they notice any damaged part of the building. And whenever they do, do no procrastinate. Make sure you listen and fix the damaged part as soon as possible. This will put you in charge and help you detect any potential problem quickly. Apart from this, you will also be saving a whole lot of money. As the saying goes, a stitch in time saves nine. By fixing the damage immediately, you will have taken care of the problem before it becomes worse.
Charge a Damage Insurance: Every time you decide to hire a short term Furnished Apartment guest in Toronto, you must ensure that you include a Damage fee as part of your charges for the apartment. You can also mention that the damage fee is a sort of Insurance that will be refunded at the end of the stay if the house is still in its perfect state. By doing this, you are telling the tenant that they are liable for any damage to the property while they are still tenants. This will help caution the tenants since they know they will be paying for any damage caused to the property. At the end of their stay in your Apartment, you can then carry out a damage assessment on the property and refund their money to them accordingly.
In the case of Short Term Furnished apartment, Damage is inevitable. So as a Short Term Furnished Apartment owner in Toronto, always ensure that you have a reserved fund that is meant to take care of damages. Your home will not be as attractive if it is damaged. So, ensure all damages have been repaired before you bring the next guest in for inspection purposes.